Press Release

Press Release

Advent Announces Next Generation of the Black Diamond Wealth Management
Platform: Designed to Elevate the Investor Experience and Enhance Firm Level
Productivity

Powerful, Flexible, and Intuitive New Investor Experience, Enhanced Rebalancing,
and New Firm and Enterprise Management Capabilities

SAN FRANCISCO – AdventConnect - September 8, 2014 – Advent Software, Inc.
(NASDAQ: ADVS) today at its annual client conference in Las Vegas, NV shared a
preview of the next generation of its Black Diamond wealth management platform,
which marks a major step in its evolution from a pioneer of cloud-based
portfolio management and reporting technology to a full-featured wealth
management platform. In addition to its industry leading reporting solutions the
Black Diamond platform also offers an intuitive, native rebalancing application,
firm and business intelligence reporting, data mining, and a dedicated service
model designed to provide growing, sophisticated advisory firms with a solution
that enhances the service they provide their clients and boosts firm
productivity so they can grow with scale.

“Black Diamond’s roots are in empowering advisory firms by providing elegant
technology solutions combined with great service to help solve the complex
problems of advising clients and running a growing wealth management business,”
said Dave Welling, Senior Vice President and General Manager of Black Diamond.
“This next generation platform - what some of our clients are calling ‘Black
Diamond 4.0’ - is a testament to Advent’s deep commitment to helping our
advisory clients thrive.”

Founded in 2003, Advent’s Black Diamond redefined advisory reporting through its
intuitive, dynamic portfolio management and reporting application. In 2010,
Black Diamond launched BlueSky, the second generation of its industry leading
application, which now supports over 565 advisory firms who manage over $266
billion in assets on the platform. In June of 2011, Black Diamond was acquired
by Advent Software and has leveraged Advent’s deep experience in portfolio
accounting and data management to dramatically expand its network of
relationships with financial institutions for aggregation of custodial data as
well as third party data for benchmarks, fixed income characteristics, and other
reference data. Black Diamond’s new platform and latest enhancements leverage
new cloud, mobile, and social technology as well as expand platform
functionality well beyond its roots in advisory reporting.

The Black Diamond platform will include not only an increase in breadth of
functionality but also a furthering of its commitment to integration with
custodians and other third party technology. The new platform will enable a
revolutionary integration approach where advisors can use the Black Diamond
platform to publish or consume data or content to or from other systems.

New Technology-Enriched Investor Experience Coming Soon: Investor Portal,
Document Vault, and Communications Tools
Black Diamond’s new platform will include a complete redesign of the online
investor experience that will empower advisors to tailor their story to each of
their clients. The new investor experience, which will be previewed at the
conference and available early next year, will include a revamped investor
portal that can be tailored to each individual client and be delivered through a
web browser, tablets, phones, or other mobile devices. Core to the new investor
experience is the expansion of capabilities to support a broader wealth
management dialogue with clients, which led to the creation of a bi-directional
document vault to help support the advisor-client-advisor workflow. Advisors
will be able to post reports, financial planning documents, market commentary,
and forms for clients to sign and return. A communication and notification
system will leverage detailed client data or characteristics to target and
tailor messages to each client by custodian, investment model, specific
investment or any other data element in the system or criteria established by
the advisor.

“We are excited about the next generation of the Black Diamond platform – it’s
great to have a partner who understands the industry so well and has the
technology and talent to anticipate our needs and build for the future. We are
looking forward to seeing how the new investor portal, documents vault, and
communications tools can help us interact with clients even more effectively,
with a whole new level of personalization in our online and mobile
interactions,” said Chris Casdia, Chief Compliance Officer, Homrich Berg.

“Our clients have always been co-architects of the technology that we deliver,
and our new investor experience was developed based on years of experience
serving advisors and listening to what they need to facilitate deeper engagement
with their clients,” said Welling. “Our clients want technology that tells a
story beyond investment performance to highlight the value they’re providing to
their clients in their financial lives. This is about providing a technology
solution that has the same depth, flexibility, and personalization that advisors
can deliver when they meet with a client face-to-face.”

Redefining Rebalancing: Intuitive, Native Rebalancing Application Builds
Momentum
In the past year, adoption of Black Diamond’s native Rebalancer has more than
doubled. The Black Diamond team began development of the rebalancing application
shortly after the acquisition by Advent with the vision of providing a robust,
intuitive rebalancing solution that could enable advisors to rebalance
portfolios at a household level across multiple custodians. In the past twelve
months, Advent has invested in Black Diamond’s Rebalancer to streamline
workflows and significantly deepen functionality to support the needs of its
growing client base. New functionality includes support of firm-level
rebalancing of models as well as client-driven workflows, tax-aware rebalancing,
and strategic or tactical rebalancing.

“We’ve designed the rebalancing solution within the Black Diamond platform based
on client feedback to make it intuitive within the native platform and
consistent in look, feel, and workflow, as well as easy to implement, and
tailored to the unique rebalancing workflows of an advisory firm,” said Welling.

Firm and Enterprise Management: Data Mining and Firm Reporting
At the conference, the Black Diamond team also unveiled the most recent
enhancements to its data mining application, a robust data query and analysis
tool. New and improved data mining functionality on the Black Diamond platform
includes enhanced filtering capabilities and data fields to get desired data
points. Advisors can query, access, and analyze their data in high-quality,
aggregated formats from an agile, intuitive tool within the platform, providing
efficiencies for compliance monitoring, research, ad hoc reporting, and business
intelligence. Coming soon will be the ability to extract time-series data and
cost basis data across all holdings. Since its initial launch last year, nearly
two-thirds of all Black Diamond clients use the platform’s data mining
capabilities.

“We use data mining and other recent enhancements as the base for our
business intelligence and risk reporting,” said Eric Jardine, Senior Portfolio
Manager at BakerAvenue Asset Management. “Flexible and simple tools like this
enable our technology systems to work well together. We can now easily measure
against our goals in less time.”
Backing Technology with Service and a Growing Community

Advent’s investment in new technology for the Black Diamond platform is
rivaled by a parallel investment in service, operations, training, and
implementation teams to help advisors get the most value out of the technology.
Black Diamond has more than doubled its service team staffing in the last three
years. The service team now represents more than 60 percent of the Black Diamond
team.
Advent also announced the continued growth of Advent Direct® Community, its new
online client experience that was announced at AdventConnect 2013. Black Diamond
clients can now access the rapidly growing community of more than 10,000
registered individuals, of which more than 65 percent are active users. Since
its launch this user-base of advisors, wealth managers, asset managers, and
hedge fund managers from among Advent’s 4,300 clients have discussed more than
700 topics, which have been referenced more than 7,500 times.

According to Welling, “One of the most powerful opportunities of being an
Advent client is that you get the opportunity to be part of an ecosystem that
includes some of the biggest and most respected firms in the industry. As six of
the top ten advisors in the country use Advent solutions, our clients have the
opportunity to network, interact, and share best practices with some of the key
leaders in the advisory industry.”

“Black Diamond’s innovative technology isn’t the only reason we’re a client; the
people behind the technology and the back-office business processes they
complete for us on a daily, weekly, monthly and quarterly basis are key
differentiators. The Black Diamond team seems more like an extension of our
office than an external provider,” said Mark Parker, Principal, Managing
Director at Murphy, Middleton, Hinkle & Parker, Inc.

About Advent
Over the last 30 years of industry change, our core mission to help our clients
focus on their unique strategies and deliver exceptional investor service has
never wavered. With unparalleled precision and ahead-of-the-curve solutions,
we've helped over 4,300 firms in nearly 50 countries — from established global
institutions to small start-up practices – to grow their business and thrive.
Advent technology helps firms minimize risk, work together seamlessly, and
discover new opportunities in a constantly evolving world. Together with our
clients, we are shaping the future of investment management. For more
information on Advent products visit http://www.advent.com.

About Black Diamond
An independent business group of Advent Software, Black Diamond provides
investment advisors and wealth managers with a cloud-based portfolio management
platform offering aggregation, customizable reporting and rebalancing combined
with fully outsourced daily reconciliation and data management service. With
innovative technology backed by exceptional service, Black Diamond frees
advisors to focus on serving clients and growing their business. More than 565
advisory firms have chosen Black Diamond to help manage more than $266 billion
in assets. Learn more at http://www.advent.com/blackdiamond.

Advent, Advent Software, the Advent and logo composite, and Advent Direct are
registered marks of, and Black Diamond is a mark of, Advent Software, Inc. All
other company names or marks mentioned herein are those of their respective
owners.

Forward-Looking Statements
Any forward-looking statements included in this press release, such as
statements regarding anticipated products, services, enhancements or
availability and features thereof, growth and financial projections, and
strategies or plans of management for future operations involve assumptions,
risks and uncertainties that could cause actual results to differ materially
from our expectations. These risks, uncertainties and assumptions include the
successful development, timing, anticipated features, functionality, benefits
and market acceptance of new products, services and enhancements, the impact of
initiatives by competitors, continued sales of existing products and services,
continued uncertainties and fluctuations in the financial markets and economic
conditions and other risks detailed in Advent’s most recent filings with the
Securities and Exchange Commission, including, but not limited to, its quarterly
reports on Form 10-Q and its annual report on Form 10-K, copies of which may be
obtained by visiting Advent’s Investor Relations Web site at www.advent.com. Any
unreleased services or features referenced in this or other press releases or
public statements are not currently available and may not be delivered on time
or at all. Customers who purchase Advent’s products or services should make
their purchase decisions based upon features that are currently available. The
Company disclaims any intention or obligation to publicly update or revise any
forward-looking statements including any financial, product or other guidance,
whether as a result of events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.